ACCOUNTS - Final Accounts preparation

PROPERTY GROUP HOLDINGS LTD - Company Information

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Registered number: 12828417

PROPERTY GROUP HOLDINGS LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2021

PROPERTY GROUP HOLDINGS LTD

REGISTERED NUMBER: 12828417

BALANCE SHEET

AS AT 30 JUNE 2021

		2021
Note		£

Fixed assets
Investments	4		269,709
Current assets
Cash at bank and in hand		12,400
		12,400
Creditors: amounts falling due within one year	5	(1)
Net current assets			12,399
Total assets less current liabilities			282,108

Net assets			282,108

Capital and reserves
Called up share capital	6	202,400
Other reserves		12,400
Profit and loss account		67,308
		282,108

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PROPERTY GROUP HOLDINGS LTD

REGISTERED NUMBER: 12828417

BALANCE SHEET (CONTINUED)

AS AT 30 JUNE 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

S M Jago

Director

Date: 1 March 2022

The notes on pages 3 to 5 form part of these financial statements.

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PROPERTY GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2021

1.	General information

Property Group Holdings Ltd is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is Building 2, Riverside Court, Bowling Hill, Chipping Sodbury, Bristol, BS37 6JX.

2.Accounting policies

2.1

Basis of preparation of financial statements

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The directors have reviewed business projections going forward and have put in place measures to ensure the business is not impacted by further COVID-19 restrictions. Therefore, the directors are satisfied that the company is a going concern and any disruptions to the ordinary activities of the business will not affect the company such that it will not be able to continue for at least 12 months.
The financial statements have been prepared on a going concern basis.
The following principal accounting policies have been applied:

2.2

Exemption from preparing consolidated financial statements

The company is exempt under section 399 of the companies act from the requirement to prepare consolidated financial statements by virtue of the fact that it is subject to the small companies regime. These financial statements contain information about the company as an individual undertaking and not about its group.

2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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PROPERTY GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2021

2.Accounting policies (continued)

2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.8

Other reserves

This represents shares returned to the company for Nil consideration that have subsequently been reissued at nominal value.

2.9

Merger accounting

When a company issues shares, those shares should be accounted for at the value of consideration received in exchange. Any excess over the nominal value of the shares issued is recorded in the share premium account. Merger relief under section 615 of the Companies Act 2006 and FRS 102 paragraph A3.24 provides relief from the creation of a share premium account on the issue of shares providing it meets all of the following criteria:

∙A company (known either as the issuing company or the acquiring company) secures at least
90% of the nominal value of each class of the equity share capital of another company as a result
of the arrangement.

∙The arrangement provides for the allotment of equity shares in the issuing company (such
allotment will normally be made to the acquired company’s shareholders).

∙The consideration for the shares allotted is either the issue or the transfer to the issuing company
of equity shares in the acquired company; or the cancellation of those equity shares in the
acquired company that the issuing company does not already hold.

Employees

The average monthly number of employees, including directors, during the period was 5.

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PROPERTY GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2021

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost
	Additions	269,709
	At 30 June 2021	269,709

On 1 December 2020, the Company acquired 100% of the share capital of Appraisers UK Limited from Allied Surveyors Diligence Limited via a dividend in specie.
On 1 December 2020, the Company acquired 100% of the share capital of Allied Surveyors Diligence via a share for share exchange at nominal value.
On 1 December 2020, the Company acquired 100% of the share capital of Riverside Property Solutions Ltd.

5.	Creditors: Amounts falling due within one year
		2021
		£

	Amounts owed to group undertakings	1

6.	Share capital
		2021
		£

		Allotted, called up and fully paid

		202,400 Ordinary shares of £1.00 each	202,400

On the 21 August 2020, 1 Ordinary share of £1 was issued with a nominal value of £1.
On the 1 December 2020, 202,399 Ordinary shares of £1 were issued with a nominal value of £202,399 for proceeds of £Nil via a share for share exchange.

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